Profession market research analyst

Market research analysts collect the information gathered in the market research and study it to draw conclusions. They define the potential customers of a product, the target group and the way they can be reached. Market research analysts analyse the position of products in the market from different perspectives such as features, prices and competitors. They analyse cross selling and interdependencies between different products and their placement. Market research analysts prepare information helpful for the development of marketing strategies.

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Personality Type

  • Investigative / Enterprising

Knowledge

  • Marketing principles

    The principles of managing the relationship between consumers and products or services for the purpose of increasing sales and improving advertising techniques.

  • Marketing department processes

    The different processes, duties, jargon, role in an organisation, and other specificities of the marketing department within an organisation such as market research, marketing strategies, and advertising processes.

  • Statistics

    The study of statistical theory, methods and practices such as collection, organisation, analysis, interpretation and presentation of data. It deals with all aspects of data including the planning of data collection in terms of the design of surveys and experiments in order to forecast and plan work-related activities.

  • Market research

    The processes, techniques, and purposes comprised in the first step for developing marketing strategies such as the collection of information about customers and the definition of segments and targets.

  • Visual presentation techniques

    The visual representation and interaction techniques, such as histograms, scatter plots, surface plots, tree maps and parallel coordinate plots, that can be used to present abstract numerical and non-numerical data, in order to reinforce the human understanding of this information.

  • Trendwatching

    The practice of understanding the world and its ever-changing nature. The observation of different phenomena in the world in order to predict and foresee the evolution of things in the world.

  • Marketing mix

    Principle of marketing that describes the four fundamental elements in marketing strategies which are the product, the place, the price and the promotion.

Skills

  • Analyse economic trends

    Analyse developments in national or international trade, business relations, banking, and developments in public finance and how these factors interact with one another in a given economic context.

  • Analyse market financial trends

    Monitor and forecast the tendencies of a financial market to move in a particular direction over time.

  • Make strategic business decisions

    Analyse business information and consult directors for decision making purposes in a varied array of aspects affecting the prospect, productivity and sustainable operation of a company. Consider the options and alternatives to a challenge and make sound rational decisions based on analysis and experience.

  • Analyse consumer buying trends

    Analyse buying habits or currently prevalent customer behaviour.

  • Draw conclusions from market research results

    Analyse, draw conclusions and present major observations from the results of market research. Suggest on potential markets, prices, target groups, or investments.

  • Identify customer's needs

    Use appropriate questions and active listening in order to identify customer expectations, desires and requirements according to product and services.

  • Present reports

    Display results, statistics and conclusions to an audience in a transparent and straightforward way.

  • Analyse internal factors of companies

    Research and understand various internal factors that influence the operation of companies such as its culture, strategic foundation, products, prices, and available resources.

  • Analyse external factors of companies

    Perform research and analysis of the external factor pertaining to companies such as consumers, position in the market, competitors, and political situation.

  • Prepare market research reports

    Report on the outcomes of the market research, main observations and outcomes, and notes helpful for analysing the information.

  • Prepare presentation material

    Prepare the documents, slide shows, posters and any other media needed for specific audiences.

  • Recommend market-related measures

    Analyse information and recommend possible improvements, market strategies, and customer preferences in order to adapt the company's market approach.

  • Identify potential markets for companies

    Observe and analyse market research findings in order to determine promising and profitable markets. Consider the firm's specific advantage and match it with markets where such value proposition is missing.

  • Identify market niches

    Analyse the composition of the markets, segment these into groups, and highlight the opportunities that each one of these niches represent in terms of new products.

  • Perform market research

    Gather, assess and represent data about target market and customers in order to facilitate strategic development and feasibility studies. Identify market trends.

Optional knowledge and skills

conduct public surveys xquery deliver visual presentation of data tabulate survey results keep up with the news apply statistical analysis techniques establish data processes database forecast economic trends perform data analysis customer service analyse supply chain trends collaborate in the development of marketing strategies query languages resource description framework query language conduct research interview analyse big data interview techniques ldap linq study website behaviour patterns customer segmentation information confidentiality design questionnaires apply knowledge of human behaviour perform project management evaluate interview reports psychology manage data conduct quantitative research build predictive models mdx data quality assessment gather data manage database n1ql customer insight document project progress business analysis sparql document interviews keep updated on innovations in various business fields apply technical communication skills perform business analysis conduct qualitative research

Common job titles

  • Market intelligence analyst
  • Market research analyst
  • Entry-level market research analyst
  • Market research analyst miami, fl - headquarters
  • Market research analyst, worldwide marketing